VALENCIA CONDOMINIUMS OF WHEAT RIDGE INC.

Board of Managers/Property Managers Meeting

Thursday, January 20, 2022

Final Minutes

OPEN MEETING

The January meeting was called to order at 6:00 p.m. over Zoom. The Board members Patricia Stelter, Sally Schuessler, Lynda Sawyer, Angela Setter, and Abby Weir were present. Eight homeowners participated. The HOA is under self-management, and the Board members are the acting Property Management Company.

OPENING COMMENTS

Patricia welcomed everyone to the January meeting. She also thanked the Board of Managers for all their hard work. Since November, it has been busy with the balcony project, building maintenance, and upkeep items.

MINUTES

November board meeting minutes were approved as drafted. Angela made a motion to approve, Abby seconded it, all approved.

FINANCIAL STATEMENTS

Angela reviewed the Budget vs. Actual statement for year-to-date ending November 30, 2021. She went over operating income, administrative expenses, ground, land, building maintenance, utilities, and reserve fund transfers for the year. She noted several areas where the costs were running higher than budgeted. Overall, the budget should come on track with income revenue due to saving wages and benefits allocated for a maintenance person. In February, the final budgets should be available for 2021.

Sally moved to approve October and November 2021 financial statements; Abby seconded. All agreed on the reports.

The ASR project for the Northside of the building is complete. As of November 2021, the HOA has paid $209,127.47 to ASR and $19,200 to EH Tippets, Project Engineer. The project progressed to the Southside in November. Two stacks on the Southside of the building are ready for engineer inspection along with the City of Wheat Ridge.   The estimated time for completing the project in March/April. All the assessments for the project are complete.

OLD BUSINESS

  • Trash Chute Cleaning – The Board has one bid and is waiting for one more.
  • Trash and Recycle Vendors – The homeowners and residents are still regularly experiencing delayed or no-show pick up for garbage and recycle dumpsters. The Board has two new bids for new companies. Sally noted that because we own the custom-built bins, not all trash vendors can work with us. We have one company Summit that looks like a strong possibility. We are still working out the details
  • Committee Volunteers – The Hospitality and Maintenance volunteers have been busy. We still need a few more volunteers.
  • Drought – The Board is planning to evaluate the impact of the drought on Valencia’s landscape in the Spring. There may be bushes and trees that will need to be removed and possibly replaced later this year.

NEW BUSINESS

  • Carpet Cleaning – The Board reviewed three bids and selected Oxi Fresh Carpet Cleaning. The carpet was cleaned on January 18, 2022, for $1,238.98.
  • Building Security Motion Lights – Need to be purchased and installed. The Board is working with the Maintenance Committee.
  • Homeowner Contact Information – About a third of the homeowners have sent in the completed form. This email information will improve more efficient ways for the Board to communicate with homeowners in 2022. Using email instead of mail or printing copies for each homeowner is a way to reduce cost and improve the time management of the volunteer board members. The Board is looking at ways to modernize its business practices.
  • In late November, a Boiler Thermal Coupler repair was done by ACA, Denver Boiler CO. They are also scheduled in January for a quarterly inspection per the ACA/HOA contract.
  • MEI Precision Elevator is the vendor for the HOA. The five-year mandatory safety inspection is due and scheduled for February. This inspection is in addition to the monthly contract with MEI and requires an additional witness for the assessment. The cost is estimated at $1,200 for the complete review.
  • An Emergency Evacuation Plan plus a map of evacuation from the building is being considered and researched by the Board. We are reaching out to the Fire Department for information, and Patricia reached out to the State for guidance.
  • Three roof leaks were reported and will be shortly repaired under warranty.
  • Board Managers, homeowners, and KC are salting slippery ramps. Salt is provided next to entrances and exits to the building if anyone needs to use it.

ADJOURNMENT

Angela moved to adjourn the meeting at 6:50 p.m.  Sally seconded. All approved to adjourn the meeting.

OPEN FORUM

Several homeowners expressed their appreciation for all the Board volunteer work on behalf of the homeowners. They also told the Board how much they liked the new meeting format and Zoom.

Concern over the balcony expenses was discussed. Angela talked about how the project was on the table some time ago (about ten years ago) and got nixed. It would have been less expensive and had less deterioration cost than 2021-2022. The Board has also done much work to understand the increased price and verify the accomplished work. Ultimately, the goal is to finish the project and secure the building for another 30 years.

Angela mentioned that we should know more about the final budget numbers for 2021 and ASR/Engineer expenses in February. The Board will provide homeowners a summary as soon as feasible.